The Business Times, 19 August 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    9 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, AUGUST 19, 1977 50CENTS
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  • NEWS IN BRIEF
    • Article
      Lance is clean
      69 1 WASHINGTON, Thurs. Federal banking Investigators said they have found no Information that would warrant the prosecution of Budget Director Bert Lance. However, Comptroller of the Currency John Helmann told Congress In a lengthy report that Mr. Lance's banking activities "raise unresolved questions as to what constitutes acceptable
      69 words
    • Article
      Lock icon Crew saved
      71 1 Reuter LONDON, Thurs. A British container ship has rescued the 25 crew members of the 7,000-tonne Singapore freighter, Lima, which caught fire in the Indian Ocean, Lloyd's Shipping Agency here said. The 58,000-tonne City of Edinburgh radioed today that none of the crew, all Asians, had been Injured
      Reuter  -  71 words
    • Article
      Lock icon Diesel venture
      72 1 UPI SEOUL, Thurs. CAV, a leading British dleael components manufacturer, has formed a majority holding partnership In South Korea with Bu Ra Da Co. to produce replacement dlesel Injection nozzles, the British Embassy here announced today. CAV, a Lucas Industries company, will Invest £3.5 million (5514.8 million) during
      UPI  -  72 words
    • Article
      Lock icon Straits scheme
      73 1 Reuter PENANG, Thurs. Communications Minister Tan Sri Manlckavasagam today called on the International Maritime Consultative Organisation to formally adopt the traffic separation scheme for the Straits of Malacca at the earliest possible date. He said the scheme, endorsed by Indonesia, Singapore and Malaysia, was unique because It incorporated
      Reuter  -  73 words
    • Article
      Lock icon Beefing up
      67 1 UPI SEOUL, Thurs. The South Korean Government plans to Import more beef, milch cows and fat calves In the coming years to meet growing meat consumption at home, according to a government five-year livestock promotion plan released today. The Agriculture-Forestry Ministry prepared the plan because demand for beef
      UPI  -  67 words
    • Article
      Lock icon Dow Jones
      79 1 UPI NEW YORK, Thurs. Stocks moved slightly higher earlv today with the aid of selected bargain hunting among depressed blue-chip Issues. Trading was moderate. The Dow Jones Industrial average, a 4.59-polnt loser yesterday, was ahead 1.82 points to 866.51 shortly before the first hour of trading. The closely
      UPI  -  79 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      168 1 THE Stock Exchange of Singapore cloeed easier with most of the aecond and third liner* losing out significantly under a combination of profit-taking and stale bull liquidation. At the closing bell, the Business Times index was marked down 3.22 points to 400.37 while the Straits Times Industrial
      168 words
    • Article
      In Kuala Lumpur
      107 1 Foils Most active Lower Perak 1.54 Syn. Reaina 1.03 Aokam 3.44 Pe*i Mais 4.80 Olympia 2.10 PMC 2.08 Loytape 1.18 GeaeraJ Ceramic* 1.18 Lien Hoe 2.48 Rises Pacific Dev. 2.84 Suafei Bacaa 1.85 Taaek Cement 2.37 Kramat 4.48 Bouia 0.62 TaipiacTeet 0.88 -0.18 -.14 -.14 -.10 00
      107 words
  • Article, Illustration
    S'pore expected to give aid
    1022 1 THE PRICE OF SUCCESS SINGAPORE has succeeded so well In overcoming the twin problems of "a hungry populatlo.n and high unemployment" that she Is now In danger of being thrown out of the ranks of the underdeveloped countries and losing all the concessions given to
    1,022 words
  • Article
    Strong likelihood of SIA floating yen bond by year-end
    962 1 SINOAPORE Airlines (SIA) will be the first foreign company other than a bank to gain access to Tokyo's bulging capital market If It is given the go-ahead by Japan's Ministry of Finance (MOF) before the end of the year. The chances
    962 words
  • Article
    More KL products for preferential trading
    197 1 MALAYSIA Is likely to offer 40 to SO new products for preferential trading when the Asean Committee on Trade and Tourism meets In Singapore next month to discuss the possibility of increasing the 71 products Identified for preferential trading among the Asean member countries.
    197 words
  • Article
    CASH OUTFLOW
    193 1 WASHINGTON, Thurs. American banks increased their overseas loans in the second quarter, creating a big Increase in capital outflows, the Commerce Department said. Overseas loans rose by US$5.4 billion (5513.2 billion) in the second quarter after a decrease of 53.3 billion in the first quarter. Although the figures
    193 words
  • Article
    Lock icon Straits tin price soars to its highest ever
    321 1 AFP KUALA LUMPUR, Thura. The Straits tin price reached iu highest ever of M 51,691 per picul today, $191 above the Inter* national Tin Council'! new ceiling of $1,500. The price of the commodity has been steadily rising to reach the $1,600
    AFP  -  321 words
  • Article
    First half profit of Steamers tumbles
    628 1 STRAITS Steamship yesterday unveiled sharply lower first half profits partly due to Indigestion arising from Its acquisition of Ben and Co. In the six months ended June 1977, Steamers group pre-tax profits fell 40 per cent to *3.9 million. Although the company pointed out
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      50 1 Get advanced copying technology s i SEE PAGE TWO Oversees News/ TV ft Radio/ Croeswerds Overseas News Local Co News International Co News Local Stocks O *sr seas Stocks P? P2 Commodities P8 n. Transport ft Coauinra aications P9 P4 Features Pit PS Local ft Overseas PS Nows PU. 12
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    • Advertisement
      Page 1 Advertisements Column 2
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      142 words
    • Advertisement
      Page 1 Advertisements Column 3
      296 1 ;.{;_.@)&,|?|<+!\""~$+}!//!["\| you ARE INVITED to the First International Exhibition of Business Equipment Services in Southeast Asia ASIAN BUSINESS EXPO September 7,8,9, 10, 1977 Hyatt Singapore Hotel Convention Centre A Rewarding Event for Business Personnel in Industry, Retailing, Wholesaling, Commerce 165 DISPLAYS... of equipment and systems (or data processing, copying, word
      296 words
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  • OVERSEAS
    • Article
      Lock icon Third World will pile up US$253b debt
      659 2 AP UPI GENEVA, Thurs. A United Nations study said yesterday the outstanding debt of Third World countries which do not export oil Is likely to rise to an accumulated US$253 billion (*****.3 billion) by the end of next year, $74 billion more than
      AP; UPI  -  659 words
    • Article
      Lock icon UK to buy missiles
      66 2 Reuter LONDON, Thurs. The UK will spend about £400 million (SSI.7 billion) In the next 10 years on development and production of four different types of missiles, Defence Minister John Gilbert told a press conference. Mr. Ollbert said the government hoped to purchase the missiles through
      Reuter  -  66 words
    • Article
      Lock icon GSA tin
      36 2 Reuter WASHINGTON, Thurs. The General Services Administration said It sold five tonnes of Grade "A" tin yesterday at the higher asking price of U555.25 per lb. The buyer was Primary Industries of New York.
      Reuter  -  36 words
    • Article
      Lock icon Peru eases laws for multinational banks
      248 2 AP LIMA, Thurs. Peru's military government, against a background of dwindling foreign reserves, has modified existing banking laws to allow new multinational banks to operate in Peru and abroad with foreign currencies. A decree law published yesterday authorised multinational banks to establish themselves here
      AP  -  248 words
    • Article
      Lock icon Encouraging search for metals in France
      191 2 AFP PARIS, Thurs. The French Geological and Mining Research Organisation (BRGM), which has been taking stock of national resources for three years, has made hundreds of encouraging discoveries, particularly of copper. The traces modest on the whole, but not negligible are to be found
      AFP  -  191 words
    • Article
      Lock icon Decision to quit ILO is held in abeyance
      291 2 AP WASHINGTON, Thurs. A Cabinet-level committee hat agreed to let stand for the time being a Ford Administration decision to terminate US membership in the International Labour Organisation (ILO) this November, th« State Department said yesterment spokesman Hod ding Carter 111 said
      AP  -  291 words
    • Article
      Lock icon Rhodesian govt loan
      71 2 Reuter SALISBURY, Thurs. The Reserve Bank of Rhodesia said the Rhodesian government's 30 million Rhodesian dollar long term loan (1992/ 97) Issued at par on a coupon of 8.5 per cent was oversubscribed when subscription lists opened. The lists were closed immediately, the reserve bank said. Applications
      Reuter  -  71 words
    • Article
      Lock icon Copper price cuts
      59 2 Reuter NEW YORK. Thurs. Asarco Inc said It Is lowering copper prices by US 5 cents (550.12) a pound (0.45 kilo) to 60 cents effective Immediately. Its new price for copper cathodes Is 60 cents a lb and wlrebar Is 60.625 cents a lb on a delivered
      Reuter  -  59 words
    • Article
      Lock icon Russia – Egypt trade ties worsening
      412 2 Russia Egypt trade ties worsening NYT CAIRO, Thurs. Egypt accused the Soviet Union yesterday of falling to live up to Its trade agreements and in turn suspended the settlement of Its commitments with the Soviet Union. This was a new move to liberate Egyptian trade on the world market and
      NYT  -  412 words
    • Article
      Lock icon Cairo plan for wage rise but no subsidies
      247 2 Reuter CAIRO, Thurs. The Egyptian Government Is planning to raise wages bv up to 60 per cent, but win cancel government subsidles on a number of foods, the semi-official newspaper Al-Ahram reported today. It said wage Increases would compensate for price increases
      Reuter  -  247 words
    • Article
      Lock icon Report out at high noon will decide Lance's fate
      476 2 Reuter WASHINGTON, Thurs. A report by federal banking investigators expected today could determine whether US Budget Director Bert Lance, a personal friend of President Carter, keeps his Job. Officials of the Senate Governmental Affairs Committee which requested a report after hearings
      Reuter  -  476 words
    • Article
      Lock icon Higher output
      40 2 Reuter PARIS, Thurs. France's industrial production Index rose 2.4 per cent in June to 128, base 1970, from 125 in May and was 4.9 per cent higher than 122 In June last year, the Finance Ministry said. Reuter.
      Reuter  -  40 words
    • Article
      Lock icon Impending record wheat surplus sends Big Four into huddle
      504 2 Reuter WASHINGTON, Thurs. The world's four major wheat-exporting countries meet here today to coordinate their marketing policies following an American forecast that the world will have an unprecedented surplus of the commodity by early next year. The forecast by Agriculture Department
      Reuter  -  504 words
    • Article
      Lock icon Sugar estimate up
      144 2 Reuter WASHINGTON. Thurs. World sugar output in *****7 ku been revised upward to 86.6 million tonnes, one million tonne* above the March estimate, the US Agriculture Department Foreign Agricultural Service (FAS) reports. The current year's output will be almost four million tonnes above consumption, placed at 82.8
      Reuter  -  144 words
    • Article
      Lock icon Quota on soya lifted
      135 2 Reuter RIO DE JANEIRO, Thurs. Brazil's national monetary council suspended the four per cent contribution quota on soya complex exports for registrations approved as from Aug 18, the Central Bank of Brazil announced. The Central Bank announcement follows confirmation yesterday by the Finance Ministry in Brasilia
      Reuter  -  135 words
    • Article
      Lock icon Comedown in coffee, cocoa prices later
      282 2 Reuter GENEVA, Thurs. Cocoa and coffee prices are expected to fall a little later this year and In 1978 from their present high levels, a United Nations report said yesterday. But the report, drafted by the Secretariat of the UN Conference on Trade and
      Reuter  -  282 words
    • Article
      Lock icon Sterling must be left to fend for itself
      335 3 Reuter LONDON, Thurs. Some monetary analysts here believe the British Government will have increasing difficulty in controlling money supply over the next few months unless sterling Is allowed to find its own level In foreign exchange markets. The size of monetary inflows
      Reuter  -  335 words
    • Article
      Lock icon Screw on firms breaching pay policy tightens
      571 3 Reuter LONDON, Thurs. The British government yesterday announced it Is widening the sanctions applicable to firms breaching official pay policy to Include the wltholdlng of certain types of export credits. A Treasury announcement yesterday says that firms applying for export credit guarantees under
      Reuter  -  571 words
    • Article
      Lock icon Canadian controls
      76 3 Reuter OTTAWA, Thurs. Canada's wage and price controls may stay in effect until the original expiry date of December, 1978, Labour Minister John Munro told reporters. He was commenting on the rejection earlier by the Canadian Labour Congress of government proposals for an early end to controls. Canadian
      Reuter  -  76 words
    • Article
      Lock icon Rate cut
      34 3 Reuter LONDON, Thurs. Continental Illinois National Bank and Trust Co of Chicago's London branch yesterday cut Its base lending rate one percentage point to seven per cent from eight per cent. Reuter.
      Reuter  -  34 words
    • Article
      Lock icon Union pressure on Callaghan looms
      248 3 AFP LONDON, Thurs. James Callaghan's Labour government can expect strong pressure from political and trade union quarters in the next few weeks for a quick boost to the economy. The increase in unemployment is seen as.a serious threat to the chances of the Labour Party
      AFP  -  248 words
    • Article
      Lock icon Israeli pound
      78 3 Reuter JERUSALEM. Thurs. The Israeli pound was devalued to 10.37 pounds from 10.17 against a basket of major international currencies effective midnight on Tuesday, the Finance Ministry said. (Yesterday Reuter reported that the devaluation was against the US dollar). The move is aimed at reducing Imports and encouraging
      Reuter  -  78 words
    • Article
      Lock icon INVENTORY RISE SLOWED DOWN IN JUNE
      190 3 Reuter WASHINGTON, Thurs. US June business inventories rose US$2.2 billion (S$S.37 billion) to n seasonally adjusted $315.29 billion, the Commerce Deportment said. The inereose compered with n $3.2 billion rise in Mny end left the incrense Cor the second quarter nt $8 billion compered
      Reuter  -  190 words
    • Article
      Lock icon DROP IN COMMERCE, INDUSTRY LOANS
      125 3 Reuter WASHINGTON, Thurs. US commercial and Industrial loans outstanding In the week ended Aug 10 totalled $119.08 billion (*****.7 billion), off $233 million from the previous week but up $7.26 billion from the same week a year earlier, the Federal Reserve Board said. Loan sales
      Reuter  -  125 words
    • Article
      Lock icon Borrowing needs of US Treasury seen lower
      451 3 Reuter NEW YORK. Thurs. US Treasury borrowing needs are expected to continue well below official proiectlons at least through the >alance of 1977, money market analysts forecast. For the most part, their optimism stems from expectations that the budget deficit for the current
      Reuter  -  451 words
    • Article
      Lock icon Exim Bank versus environmentalists
      387 3 AP. WASHINGTON, Thurs. Environmental and business groups are fighting over whether a government agency should assess the environmental Impact of US goods and services on foreign countries before financing export deals. The focus of tyie dispute Is the Export-Import Bank, a federal agency, which has financed
      AP.  -  387 words
    • Article
      Lock icon Use of German industrial capacity to fall further
      328 3 Reuter BERLIN, Thurs. The German manufacturing Industry's capacity utilisation Is expected to fall further after a drop to an average 88 per cent In the first two quarters of this year from 91.5 per cent In the last three months of 1976,
      Reuter  -  328 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      61 2 /a T£T7 a OLIVIA NEWTON-JOHN we now present Jackie Darnell Her warmth, style and dynamism is just unbelievable. Her performance has DRIVE— PACE.. .EXCITEMENT.. .so critics say. See for yourself. Hear for yourself. Limited Season only. Also appearing nightly at the Neptune. w 1 at the With Irene Francis, The
      61 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      336 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 18 at Singapore airport. Maximum Temperature 29.3° C Associated Humidity 72 Minimum Temperature 21.9° C Associated Humidity 97 Hours of Sunshine 1.85 Rainfall in Millimetres 6.5 Total Rainfall for the Month 119.5 Total Rainy Days for the
      336 words
    • Miscellaneous
      Page 2 Miscellaneous Column 2
      605 2 fS V TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS I Forecourt footwear? (5) Different shape of the moon (5) To« a writer a flower (T) 19 Handed gin around (5) II Cater for a boxing need (5) 12 Stopper (5) II The film we back (7) IS Ptnd tn the diocese (3)
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      227 3 Until You See Your Dream Home 'Nassim Mansion' The only apartments with a GOLF COURSE, Olympic Class Swimming Pool, Tennis Court and many other beautiful features h we are unable to express in words. X. ~«medVat» Best locality. (Next to Botanic Gardens) fof !>t\On Best environment. > OC6WP av Best
      227 words
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  • COMPANY NEWS
    • Article
      MISC suffers setback as earnings flag
      900 4 MALAYSIA'S national shipping line. Malaysian International Shipping Corporation, has successfully procured new delivery dates and a fresh financing packagf for the five liquified natural gas (LNO) carriers it ordered from French shipyards. The carriers, costing M 91.8 billion, were supposed to be delivered progressively
      900 words
    • Article
      Two Esso firms in KL pool management resources
      288 4 THE TWO Esso companies in Malaysia have undergone a management restructuring which places both companlerUnder a common chairman and chief executive, pools staff functions of both companies, and allows for two new senior appointments. Under the new management structure, Esso Production Malaysia,
      288 words
    • Article
      DIVIDENDS ANNOUNCED
      284 4 Current Ex Date Total for Total for payment Date payable the year previous yn Singapore Glass 10% July 29 Aug 19 10% 5% George Kent 12% July 21 Aug 26 12% 10% Malaysian Tobacco 15%I July 28 Aug 29 15% I 50% Island ft Pen. 8% Aug 11
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    • COMPANY MEETINGS
    • Article
      October date for London Tin units move
      603 4 THE DELAYED move of domicile from Britain to Malaysia by London Tin units. Southern Malayan Tin Dredging and Southern Klnta Consolidated should now be completed by Oct. 28. This will bring to near completion the complex project of uniting Malaysia's major tin producers
      603 words
    • Article
      Sime Darby Holdings denies LSE probe links
      377 4 SIME DARBY Holdings has said that the recent probe by'the London Stock Exchange into the unusual price activity of Consolidated Plantations warrants Is In no way concerned with any company In the group or with the sale of Cons Plant warrants by wholly
      377 words
    • LATEST RESULTS
      • Article
        SOUTH East Asia Development Corporation —
        38 4 SOUTH East Asia Development Corporation Unaudited group pre-tax profit M 52.01 million ($1.89 million) for the first half- year ended July 31, 1977. Parent company pre-tax profit $277,000 ($189,000). Interim dividend 15 per cent (10) payable Oct 3.
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    • Article
      Bumiputra stake in Pacific Bank
      525 4 KUALA LUMPUR, Thurs. Pacific Bank, one of the smaller locally Incorporated banks, has joined the ranks of the growing number of local banks to take in bumlputra partners. The bank is in the process of restructuring to allow for 30 per cent bumlputra ownership. In
      525 words
    • Article
      SES queries Pacific Dev on annual report inconsistencies
      996 4 THE Stock Exchange of Singapore has asked Pacific Development Credit to clarify certain incomplete and inconsistent information contained in Its Just released 1976 annual report. The BES says it would like to know why no disclosures were made in the report regarding
      996 words
    • Article
      Lock icon INVESTORS MAY LOSE ON ELECTRIC UTILITY BONDS
      763 4 NYT. NEW YORK, Thurs. Some investors who purchased high yielding electric utility bonds and Ef erred shares over the eight years will soon lose their high returns as utilities redeem the Issues to cut Interest and dlvldent costs. Recently, Florida Power and Light
      NYT.  -  763 words
    • Article
      CHICAGO BOARD OPTIONS
      1562 4 On Aug 17. TRADING on the Chicago Board Options Exchange came to 103,248 contracts on Wednesday compared with 92,458 contracts on Tuesday. OPTION OCT JAN APL STOCK Alco» Alcoa Alcoa Am Exp Am Exp Am Tel Am Tel Am Tel AUR AUR Avon Avon Bank Am Bank
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      227 4 Straits Steamship Company Limited Incorporated in Singapore Interim Report to Stockholders The Directors advise the following unaudited results of the Group and the Company for the six months ended 30th June, 1977: Half Year to Xh Jum Group Conpaay Operating profit Investment income interest Interest payable Share of profits less
      227 words
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  • Article
    Lock icon CSR offers A$1.75 a share for AAR
    732 5 ASIAN COMPANIES Reuter SYDNEY, Thurs. CSR will offer A 11.75 a share for the 90.1 per cent of the Issued capital of Australian Associated Resourcea (AAR) It does not already hold, CSR's managing director Gordon Jackson said In a statement. AAR has 25.85
    Reuter  -  732 words
  • Article
    Lock icon Shell buys Poseidon's Windarra stake
    216 5 Reuter MELBOURNE, Thurs. Shell of Australia has. signed an agreement to purchase Poseidon's halfshare In the Windarra Nickel Mine, Poseidon's receiver/manager Noel Buckley said In a statement. The price was undisclosed. Western Mining Corp (WMC) holds the other 50 per cent stake in the Western
    Reuter  -  216 words
  • Article
    Lock icon Nomura to issue ADRs?
    85 5 Reuter TOKYO, Thurs. Nomura Securities declined to comment on a Japanese press report that It will Issue American Depositary Receipts (ADR) later this year. The Japanese news agency, Kyodo, reported Nomura plans to offer about 20 to 25 million shares to common stocks In the form
    Reuter  -  85 words
  • Article
    Panel to speed up merger
    83 5 TAIPEH,Ttour si~Five major producers of synthetic fibres in Taiwan have set up an organising committee to accelerate their merger, a committee spokesman said. The board chairman of the companies, HualonTeljln Corp, United Nylon Corp, Kuo Hwa Chemical Corp, Shin Hsin Chemical Fibre and Textile Corp
    83 words
  • Article
    Oakbridge earnings increase 50pc
    135 5 SYDNEY, Thurs. Oakbridge reported that unaudited consolidated operating profit rose about 50 per cent to As6.B million for the year ended June 30, 1977 from $4.52 million previously. Sales recorded an Increase of 17 per cent to $81.33 million from $52.24 million. Oakbridge said the profit
    135 words
  • Article
    Minolco
    31 5 MANILA, Thurs. Western Minolco said it suffered a net loss of 8.5 million pesos in the first half of this year against a similar loss of 2.67 million pesos previously.
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  • Article
    HK Ferry
    30 5 HONGKONG Thurs. Hongkong and Yaumatl Ferry has declared an unchanged Interim dividend of HK4O cents this year. Its books will be closed from Sept 12 to 17 inclusive.
    30 words
  • Article
    Lock icon Tokyo mills won't take part in project
    145 5 Reuter TOKYO, Thurs. Kawasaki Steel Con> said Japanese steel milts and ferro nickel smelters will not take part in Colombia's cerro matoso ferro nickel project due to a slump in the Japanese ferro nickel Industry. The Japanese firms, which include Nippon Steel Corp,
    Reuter  -  145 words
  • Article
    Lock icon Large capital outflow through bond market
    435 5 EUROPEAN COMPANIES Reuter FRANKFURT, Thurs. Heavy foreign bond buying by German Investors Is leading to large capital outflows from the country, In line with the Bundesbank's aim of promoting capital exports to offset Germany's continuing high current account surplus, bond market sources said. The
    Reuter  -  435 words
  • Article
    Lock icon Tax reform may lead to more new issues
    183 5 Reuter FRANKFURT. Thurs. Reform of the German corporation tax system Is expected to lead to an Increase in new share Issuing activity by German companies, Deutsche Bank Ag said In a study. The reform means that If companies cut their cash dividend
    Reuter  -  183 words
  • Article
    IAC Hldgs incurs A$18m loss
    132 5 SYDNEY, Thurs. Despite recording a 10 per cent rise In revenue, lAC (Holdings) sakl It Incurred an audited consolidated operating loss of A 517.82 million In the first half-year ended June 30, 1977. This compares with a profit of $3.54 million In the 6revlous half-year.
    132 words
  • Article
    ANZ Group final step
    89 5 MELBOURNE, Thurs. The Australia and New Zealand (ANZ) Banking Group said It will take the final step In the transfer of Its domicile from the UK to Australia In the form of a scheme of arrangement under the Victorian Companies Act. Under the scheme, shareholders will
    89 words
  • Article
    Lock icon Bank America confident of second half prospects
    166 5 NORTH AMERICAN COMPANIES Reuter BANKAMERICA CORP Is confident about Its prospects for the second nirtf of 1977, President A.W. Clausen said In a quarterly report to shareholders. Mr. Clausen made no Seclf lc predictions but said e confidence was based partly on the
    Reuter  -  166 words
  • Article
    Lock icon Carrier finalises Inmont takeover
    85 5 Reuter CARRIER CORP said It completed the purchase of 747.200 shares of common stock of Inmont Corp owned by Esmark Inc. Price of the purchase was not disclosed. Carrier and Inmont announced on Aug. 11, the two companies signed an agreement to merge under terms approved
    Reuter  -  85 words
  • Article
    Lock icon Proctor achieves record sales
    166 5 Reuter PROCTOR AND GAMBLE said It achieved record sales and earnings In the year ended June 30. 1977 but Its Folger's coffee division was hurt by rising green coffee bean prices. New records were set In unit volume shipped In all of its consumer products divisions
    Reuter  -  166 words
  • Article
    GM workers on strike
    141 5 GENERAL MOTORS CORP said 12,700 workers at Its Delco-Remy division In Anderson, Indiana are on strike. OM said the division makes starting generating and ignition systems, electronic engine controls and batteries. The company said DelcoRemy officials are meeting United Auto Workers officials for further talks. It
    141 words
  • Article
    Lock icon FCB sets interest rates
    163 5 Reuter THE Farm Credit Banks said it has set interest rates of 7.20 per cent and 7.75 per cent respectively on Its proposed offering of five-year and 12-year bonds yesterday. The Farm Credit system's first Issue of consolidated systemwide bonds will comprise US$532 million of fiveyear
    Reuter  -  163 words
  • Article
    K Mart buoyant
    86 5 K. MART CORP said it made net earnings of U5569.43 million or 56 cents a share in the second quarter ended July 27, 1977 compared with $58.04 million or 47 cents a share previously. The 20 per cent Increase was achieved on sales of $2.3 billion, up
    86 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      245 5 Which bank helps you come to grips with today's fast-moving world? We do. Bank of America. In today's rapidly changing wor Id situation,the successful execution of business plans calls for flexibility and fast response. Information must be current and complete, and requires constant alertness by a professional staff, both in
      245 words
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  • Article
    Share Information Service
    2365 6 im Hick Lmm C—paay La* 8*1* ♦arGfe'i Dhr e'n Gr*s C Nat rm Val ("888) Day High Law 8BCTION ONE INDUSTRIALS 154 204 96 230 88* 198* 169 223 404 171 136 172 58 212 57* 155 152 182 350 145 Acma Alcom Allied Choc Bata Ben
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  • Article
    Transactions in Singapore
    1524 6 BID and oftsr prices offlcklb tasted and biMniis to uJnjmttUH day totted tftown In bneM In lati of IMO units •MM otherwise Al Tim Settlement Contracts are quoted altar the word "Sett Bit Board deals (in lota of S.MM units) are quoted after tbe letter BB SECTION
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  • Article
    In Kuala Lumpur
    1641 6 BID and offer prices officially bated and business in and reported to the Kuala Lumpur Stock Exchangeyesterday with the number of shares traded shown in bracket* in lots of 1,000 units unless otherwise specified.. INDUSTRIALS AJtaenwte (2.068) (1) S.lO. A. Owe (7) 0.92. A.M.D. (0 MB 0*48)
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  • Article
    Stock options
    90 6 BTKIKING prima at tha atocfc iplliai aAaialty Hate 4 aa the Staak *TSiacapare, tha partita. tUaadetfir prtoaa aad beriaaai 4om yaatatday, with the aaaahar at eptieaa traded ■hi ii a la hraiheti. D B 8 (Sept 83.60) (8.288). (oiEfn- (Bapt ,2.46) (Dw 82.48) (2) 0.22. -tt-48) (0.30B) (2)
    90 words
  • Article
    Unit trusts
    141 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Meaa—■' friaaa tar A« It) (Cm pi riaaa) The Commerce... INCOME BOND 1.07 1.13 1.73 1.63 The Saving Pund 1.00 1.06 MARA BUMIPUTRA FUND 8'pore Prof Pund 0.68 0.00 <M«aa—»' prim far Aag If) 8 pore Security 1.47 l.Stad First Bumtputra 2.16
    141 words
  • Article
    CORPORATE BONDS
    176 6 B O T 8 1/2% 1881 (100,000) (103 *B 103SS) B O T 7 VB% 1884 (100,000) (998 99*8) L T C B J 1882 (100,000) (98SB 998) Credit Lyonaaia Floating 1883 (100,000) (98*B 98*8) D B 8 Converts 6 1/2% 1881 (100,000) (988 98*8) D B S
    176 words
  • Article
    GOVERNMENT BONDS
    118 6 Rep Spore D Mark 7% 1982 (100,000) (1018 101*8) Ran Spore 8 1/2% I*B3 (100,000) (99%8 100*3) Ren Spore 7 3/4% 1987 (100,000) (100*B 101S) 5 1/4% 16/7/78 (250,000) (101.40B) 4 3/4% 1/5/79 (250,000) (100.85B) 5 1/4% 18/10/79 (250,000) (101.888) 6 3/4% 16/6/80 (250,000) (105.008) 5 3/4% 1/4/78-80
    118 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
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  • Article, Illustration
    SES TURNS EASIER
    692 7 TRADING took erratic patten at tb Stock Kiekuf* of Singapore yesterday. Volaae was moderate and atill centred la section two of the market where a fow firm apota began to eater go on apecalathro support. On be la ace the market cieoed easier with moot of the
    692 words
  • Article
    SHARES EASE IN KL TOO
    379 7 A LACK of followthrough drove share prices lower on the Kuala Lumpur Stock Exchange yesterday. Although brief rallies were noted now and then, these generally drew little support and as a result, values were further eroded in the afternoon. Observers believe the market is still
    379 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      336 7 HONOKONO: The market closed slightly firmer In very quiet trading, dsalers said on Thursday. The Hang Seng index rose 1.11 to 396.71. Heagkeag Land rose five cents to $6.79, Toidlas Matheesn 10 cents to 113.80, Wheotacfc Msrdaa 2.90 centa to $2.96, and Swire Pacific cloesd at $6.19 from yesterday's
      336 words
    • Article
      Tokyo
      513 7 ■r TOKYO: Share prices closed steadier on selective demand for large-asset shares, dealers said on Thursday. The Dow Jones Average gained 4.24 to clow at 5.220.M, with volume 330 million shares. The New Index was 383.90, down 0.27. Heiwa Real Estate. Mitsubishi Real Estate, Tokyo Hallway and other large-asset
      513 words
    • Article
      Sydney
      441 7 SYDNEY: The market was mainly lower on Thursday except for AA* which rose 3$ cents to $1.83 on turnover of almost 200,000 aharee after the Md by CSR. dealers said. The Sydney AH-Ordinaries index closed 3.67 points lower at 437.48. CSR fell 17 cents to $2.93 after AAR said
      441 words
    • Article
      Manila
      102 7 MANILA: The market closed firm with turnover advancing modestly, dealers said on Thursday. Leading oil issues rose two points while others were steady. Mining issues were steady, while Baa Miguel row one point, and other commercials were unchanged. AUG It Paaoa AcojeMining OOM unch AtlasCon A 17.00 -4.1 Atlas
      102 words
    • Article
      Bangkok
      98 7 AUG U BatoU 1 Asia Fibre SIS unch Banfkofc Bulk 306 Bangkok Invest. 173 ♦S Ban«kok-Metro-politan Bank Bau 736 60 Berll Jucker 438 ill Charoonf Thai Wire ISO ♦I Dumex Duslt Ttianl Faber Merlin First Trust 1MB Indo-Thal Industrial Finance Corp 1ZS6 30 J And J Ho MS ♦4
      98 words
    • Article
      Amsterdam
      316 7 AMSTERDAM: Tuesday's news that PhWpe' had revised downwards 1U sales forecast, and Akse's loss, depressed the market on Wednesday, dealers said. Traders were also reserved ahead of Unilever's results, but when these were announced after bourse closing the figures were better than expected, market sources ssdd. Dutch Internationals fell
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    • Article
      Brussels
      144 7 BRUSSELS: The market was mostly lower in thin trading, reacting to the trend on Wall Street, dealers said on WednesIssues to rise included SUn, Vlstile Ms—agas, St Raefc, and ArM. Falls Included Traetlea, Aaturieana, FN and Wageas-Uts. UK and Oerman stocks were .firm, but French, Dutch and US issues
      144 words
    • Article
      Frankfurt
      314 7 PRANKPURT: Shares cloaed higher on Institutional buying, buoyed by continued speculation the government may decide tax cuts, dealers said on Wedneoday. Dsetscki Baak led banks up to 4.90 marks higher, while Thyoooa roee 2.90 and Dssehol 1.10. Utilities and storea wore well maintained. Engineerings were slightly lower In reaction
      314 words
    • Article
      Milan
      167 7 MILAN: Btocks roee over a broad front on renewed Interest towards the closure In fairly active trading, dealers said on Wedneoday. Ante and Bnia Vlaeeoo were only marginally firmer while Plat, both OUvetU, Pirelli SPA and Meatedlaea gained but Pirelli B C eased slightly against the trend. Aaalenrasieal Oeaerall
      167 words
    • Article
      Paris
      302 7 PARIS: The market showed small losses In very dull and thin trading on Wednesday, with scattered selling having a dlsgrogwttonate ehect on prices. Chemicals and *nyiTv—rin»« showed some resistance, and Oaeset Lefee was a strong point. US stocks and foreign oils eased. Oermans and golds were steady. AUG IT
      302 words
    • Article
      Zurich
      294 7 ZURICH: The market firmed In active two-way trading on Wednesday with Investor Interest centered on major banks, utilities and industrials. Export oriented stocks drew support from a higher dollar. lUnhgosoll■talt featured gainers among banks. Oalners predominated alao In flnandals apart from easier OsrMksa Baohrls which continued easier on proflttak'Hfnsurances
      294 words
    • Article
      Jo'burg
      380 7 JOHANNESBURG: Ooid shares were firmer on the stock exchange In line with the higher bullion price, dealers said on Wednesday Heavyweights gained up to 80 cents, while medium and lightweight Issued roee by up to SO cents. Mining flnanclals followed producers up. Coppers were steady and platinums mostly gamed
      380 words
    • Article
      Toronto
      294 7 TORONTO: The market cloeed broadly lower Id moderate trading on Wednesday, with the composite Index more than four points down. Real estate, Qolds and communications were the only Index gainers. Declines outpaced advances 223 to 128. five cents to 94.60. Csastal Rataririssi, which has offered $4.80 a share and
      294 words
    • Article
      New York
      1148 7 NEW YORK: The stock market, still troubled about the economy, failed to sustain a mldsesnon rally attempt, leaving prices mixed in moderate trading on the New York Stock Exchange on Wedneeday. Once again, glamour issues Kvlded temporary strength to market. Transportation and utility Issues were also higher earlier,
      1,148 words
    • Article
      Indices
      64 7 FINANCIAL TOOES INDUSTRIALS Wednesday ♦85 3 490 Week Amo 480 a DOW JONES AVERAGE INDUSTRIALS Wednesday 884.88 Tuesday 888 88 Week Ago 887.04 LONDON DOLLAR Wednesday M to MM Tuesday 87* to 87* H.K HANG SKNG Wednesday 418 88 Tuesday Week Ago *4tf SYDNEY INDU8TR1A1 A Wednesday 381.4} Tuesday
      64 words
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      Page 7 Advertisements Column 1
      385 7 BUSINESS TIMES Airline Directory A CahIAA AivlinM Awl wfIWT 110-112 Show Centra, Orchard Road, Singapore 9 (T«t: 377.111) Air Ceylon 302-B, 3rd Floor, Merino House S hen ton Woy, Sinpopsra (1) (Tel: *****00) Air France Ground. Floor, ICS Buildine, Shonton Woy Sinoepere 1 (Tel: *****11) Air In^ii 16th Floor, UIC
      385 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      460 8 THE Singapore rubber market opened 0.25 cent higher, then ruled quiet but slightly steadier on shortcovering and some forward Inquiries. However, towards the morning close values slipped fractionally on profit-taking, dealers said. Physicals were neglected. The morning session closed quiet with September One RSS buyers
      460 words
    • Article
      RAS PRICES
      314 8 Prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 193.00 194.00N 194.25 195.25N Int 1 R.S.S. September 195.75 196 25 198.75 197.25 Int. 1 R.S.S. October 198.25 198.75 199.25 199.75 Int. 2 R.S.S. 193.50 194 50N
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    • Article
      SSR AND SMR
      96 8 NOON SSR and SMR prices yesterday R.A.8. (Curnat Mth) October (Forward Mth) Buyer* Seller* Buyer a Seller* (cent* p«rk«) (em it* per kg) SSR 20 (1 -ton pallet) 193 00 195.00N 194.00 198.00N SSR 50 (lton pallet) 190.50 192.SON 191.50 193.50N MBSLB SMR5CV (1-ton pallet) 214.50 216.50N
      96 words
    • Article
      Closing prices
      30 8 Rubber: August 18 Singapore: September 196.75 cents (up 1.75 cents.) Malaysia: September 197.50 cents (up 1.25 cents) Tin: $1,691 (up $15) Official offering: 180 tonnes (down 20 tonnes)
      30 words
    • Article
      Produce exchange
      396 8 LIOHT trading in generally easier conditions was again the order of the day on the Singapore produce market yesterday. After a steadier opening in sympathy with the better sentiment prevailing in the London overnight market, coffee prices faltered on lack of support and the emergence of fresh sellers
      396 words
    • Article
      Sugar
      382 8 LONDON, Thurs. Sugar, futures opened quiet, unchanged to £0.25 per tonne down from yesterday afternoon closing levels on sales of 231 lots. Dealers said the market took very little notice of US Agriculture Secretary Bob Bergland's proposal of a four-cent tariff rise on sugar Imports Into the US. When
      382 words
    • Article
      Coffee
      299 8 LONDON, Thurs. Terminal coffee values opened £1 lower to £30 higher. 356 lots were traded. November was at a middle price of £2,412 after moving Inside an initial range of £40. Declines initially ranged to £45 before a rally on trade buying. Only the first three positions were actually
      299 words
    • Article
      Palm oil
      73 8 C.I.F Rotterdam. US dollars per ton LONDON: Malaysia 5% f fa bulk Wadaasday Previous 448 pd Aug/Oct 450 sir Sumatra 5% Auk 562.50 sir 562 50 sir Sept 490 sir 460 sir Oct 453.50/460 pd 455/450 pd Nov 442.50/447.50 pd 440 pd Dec 440 sir 450 sir Jan
      73 words
    • Article
      Straits tin market
      320 8 THE Straits tin price In Penang yesterday was up Msls to $1,681 per plcul on an official offering down 20 tonnes to 180 tonnes. Wednesday's firm London Metal Exchange as well as a lower volume of tin metal contributed to the rise, dealers said. They also reported
      320 words
    • Article
      Cocoa
      188 8 LONDON, Thurs. Terminal cocoa advanced to limit levels at the opening call. Basis near December traded £40 higher at £2,430, but met chart resistance to close the call £35.50 (near September at £2,672.50) to £22.50 per tonne up. Dealers attributed overall gains to a further technical recovery from the
      188 words
    • Article
      Hongkong comex
      295 8 HONGKONG, Thurs. The cotton futures market closed slightly firmer in very dull trading, closely In line with the overnight rise In New York, dealers said. Traders were reluctant to enter the market, in anticipation of a decline In cotton prices, they said. Total turnover fell to 17 lota
      295 words
    • Article
      Rice
      195 8 BANGKOK, Thurs. Indicative prices quoted here today were: (In US dollar* per tonne fob basis Bangkok) WUu Uc*s 100 pet lit class 308. 100 pet 2nd 292. 100 pet 3rd 288. spet 277, 10 pet 243, IS pet 260. 20 pet 241. 29 pet 238 35 pet unq Mm:
      195 words
    • Article
      Soybeans
      130 8 CHICAGO, Thurs. Soybean futures yesterday posted losses of 7 1/2 to three cents a bushel at the close but finished the session above the day's lows. Trading was light through most of the session. Prices ranged to either side of Tuesday T s close with continued Soviet soybean buying
      130 words
    • Article
      Wheat
      70 8 CHICAGO, Thurs. Wheat futures yesterday registered losses of m to V» cent a bushel at the end of a very fight and mainly local trade. Prices fluctuated In about a three-cent range to either side of the previous close, firming Initially on buying encouraged by early gains In soybean
      70 words
    • Article
      Copper
      332 8 LONDON, Thurs. Copper wire bars declined £10 for cash and £0.50 for Three Months. Dealers said the market slipped back from yesterday's levels under liquidation and renewed Influential hedge selling Induced by the easy New York close together with the five-cent cathode price cut to 60 cents per pound
      332 words
    • Article
      Silver
      229 8 LONDON, Thurs. Silver closed unchanged to 0.2 pence down. Steadiness in gold and the bullion dealers fix were supporting influences In an otherwise quiet and featureless market, trade sources said. Three Months traded finally at 255.7 pence. Carries accounted for the bulk of the turnover of 129 lots. On
      229 words
    • Article
      Gold
      319 8 THE Singapore gold market was sluggish with the kllobar being quoted at 5511,440 for almost the whole day. The market closed at 5511,432. In the loco London market, the metal opened at U*****.20/40 and closed at 144.00/15 in dull and quiet conditions. The London morning fix was U*****.75, up
      319 words
    • Article
      Lead
      114 8 LONDON, Thurs. Lead finished the morning with losses of mostly £4.25. Values were marked down in the pre-market under moderate liquidation following the trend in copper, with Three Months trading down to £310 per tonne. Short-covering support, aided by some European physical inquiry, emerged In the ring where Three
      114 words
    • Article
      Zinc
      116 8 LONDON, Thurs. Zinc declined by C 2.50 for cash and £3 for Three Months. Dealers said this metal reflected the downturn in other base metals with scattered hedge selling putting Three Months down to 1295.50 per tonne in early ring dealings. The lower levels found light covering prompted by
      116 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        516 8 SINGAPORE'S local money market yesterday confirmed easier Interest trends with overnight money coming at the three per cent level. Opening at 3% per cent, overnight funds were pushed down to three per cent and then to the lowest recorded for the day of 2 5/8 per cent. The rest
        516 words
      • Article
        Minimum lending rates
        51 8 ACBC 6'< First Chicago 6'-« Citibank 6V, Bangkok Bank 7 HSBC m Bank of Amarica indoouet Bank of China 7 6 l Bank of Tokyo Mitsui Bank <v 4 Bank Negara OCBC I ndonetii 7 OL'B ChartarW Bank 6 l < CCff 7 S*. UMBC 7 DBS
        51 words
      • Article
        Asian $ rates
        165 8 Asian rates ASIAN currency deposit interbank rate* as at close on Aug It: L'SDoUar* (8pst) 7 days .8 i/18 5 15/16 1 mth V16 1/16 2 mths 6 3/8 6 1/4 3 mths 6 8/16 6 7/16 6 mths 6 13/16 6 11/16 9 mths .6 18/16 6 13/16 12
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      • Article
        Discount
        44 8 RANOE of price* offered by discount houaet oil Auf 18 Oernlfht 2 JS Call Depoatt 3% CU| 3-Month Treasury bllU 3-Month Bank bllU 3-Month CD 6-Month CD Bvhl 41/4 411/11 4 15/16 2 It 4 1/4 1/1# ivie Source: National Discount Co. Ltd.
        44 words
      • Article
        Euro $ rates
        149 8 Euro rates LONDON, Thurs. Period Eurodollar deposits up to six months opened higher, reflecting the loss of the Friday dealings technicality, but dealers reported a slightly offered tendency in early trading. Initial technical gains In periods ranged from 3/8 In One Month to 1/16 In Six Months, but rates tended
        149 words
      • Article
        Frankfurt
        41 8 FRANKFURT exchanges opening quotes on Aug 18: US 2 3280/90 Can 2 1675/96 UK 4 060/066 Netlt 94.70/80 Swtts #6 72/62 Italy 2 636/44 Prance 47 25/35 Nor* 44 16/26 Belg (com) 6.515/25 Belg (fin) 6 463/53 Japan 0 6730/40
        41 words
      • Article
        London
        211 8 LONDON, Thurs. The dollar opened stronger here around 2.3295/ 3305 marks against its overnight 2.3276/ 86, dealers said. The US currency traded quietly with many operators holding back initially, uncertain over the dollar trend. The higher opening reflected a firmer trend In New York after the Federal Reserve undertook
        211 words
      • Article
        New York
        140 8 NEW YORK, Thurs. The dollar recovered yesterday from opening lows against most major currencies to close nearly at Tuesday's final levels. Dealers said the rally came after New York Federal Reserve Bank made overnight reverse repurchase agreements with federal funds at 515/16 per cent. They said trading was
        140 words
      • Article
        Tokyo
        117 8 TOKYO, Thurs. The US dollar for overnight delivery closed at 266.90 yen, up from a 266.70 opening, unchanged from yesterday's close, dealers said. The dollar fell Initially to 266.40 on selling to buy yen from US West coast and Asian centres, but the low price level attracted Import cover
        117 words
      • Article
        Hongkong
        152 8 HONGKONG, Thurs. The US dollar eased to close at 2.3285/ 95 marks from New York's mid-point equivalent close of 2.3310, after falling to a low of 2.3277/ 87, In moderately active and nervous trading, dealers said. Other currencies were quiet and little changed from New York, with the yen
        152 words
      • Article
        Australia/NZ
        46 8 AUSTRALIA/NZ excharyes on Aug 18: Sterling 1.1048/ .0607 US dollar 0.097/0.099 Ninety-day air mall buying rate*: Sterling 0 6528 US dollar 1.1296 Ninety-day forward buying rate* US dol&r 1.0062 New Zealand Sterling 0.56*7/0.5636 US dowr 0.9731/0 9636 Ninety-day forward rate: Steriliw 0.5706 US dollar 0.9904
        46 words
      • Article
        Zurich
        46 8 ZURICH exchanges closing quotes on Aug 17: U8 2 4340-4347 UK 4 2300-2390 Can 2.2995-2975 W Oerm 104.92-69 Neth 99.90-99.99 Prance 49 50-54 Bel* 6.91-1/4-S2 Denm 40 59-62 Norw 46 16-21 Bwed 55.31-35 Italy 0.2756-2756 Austria 14.73-75 Port 6.27-31 Spain 2.67-1/4-97-3/4 Arg 0.55-65 Japan 0.91-1/4-91-3/4
        46 words
      • Article
        Eurobonds
        272 8 Straight! Bid Offer Austria 8* 90 101* 102* Bell Canada 8* 86 104* 105 BFCE 8*. 83 101* 102* Brazil B 84 98* 98* Can Pacific 9* 83 101* 102 Credit National 8 *86 90S 100* EC8C983 103 104 EEC 8* 82 101* 101* EEC7*79 100* 100* Euroflma8*83 97*
        272 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      138 8 frDon't let the language barrier stop you from wider contacts ro ft I# i\V '4 ,e«> v* y to ggga** 3^ r A\ c \N *P> k te v s >/ X* \N ,e •°lxe J P u^ \c^ 5 k YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at
      138 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Public bitterly against new canal treaty says Murphy
      488 9 Reuter WASHINGTON, Thurs. American public opinion Is bitterly opposed to the United States giving up control of the Panama Canal, the chairman of a congressional committee said here yesterday. Representative John Murpny, chairman of the House Merchant Marine Committee, was speaking at
      Reuter  -  488 words
    • Article
      Lock icon First ship to break through to the top of the world
      450 9 NYT NEW YORK, Thurs. The Soviet Union announced yesterday that Its nuclear Icebreaker Arktlka had reached the North Pole, the first surface ship to break through the Arctic Ice to the top of the world. Press dispatches from Moscow
      NYT  -  450 words
    • Article
      S'pore used cars sell like hot cakes in JB
      214 9 JOHORE BARU, Thurs. Singapore used cars are In demand In Johore Baru. According to an RIMV source, Johore Baru residents are buying them "by the hundreds" every month. The RIMV was dally processing between 20 and 30 applications by Malaysians for
      214 words
    • Article
      Lock icon Clearing of Klang backlog begins
      150 9 Reuter PORT KLANG, Thurs. The port authority here, with the help of Malayan Railway, has begun clearing a backlog of some 2,500 containers lylne at the container terminal for several days because of a breakdown among straddle carriers. Director-general of the Port Klang authority, Mr.
      Reuter  -  150 words
    • Article, Illustration
      IN PORT
      333 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Altalr (0700) 45 Blue Shark (1400 after Pltria) 40/41 Chidambaram (1300 after Pltria) 42/43 Fernandoeverett (0900 after Johannes Maersk) 18 Green Ray (HODV) (2300) 24 Guatemala Maru (JPAD) (after Perekop) 8/9 Kenlngau (1) (1300 after Glso Maru. No. 18 subject freeboard) 27/28 Kenlngau
      333 words
    • Article
      Lock icon Airlines will be severely taxed by fare slashing
      339 9 NYT. NEW YORK, Thurs. The president of El Al Israel Airlines, one of the six carriers seeking to slash fares on the New YorkLondon route next month, said yesterday that the reduced fares would mean a severe financial drain for some carriers,
      NYT.  -  339 words
    • Article
      Call for greater productivity
      178 9 MR. Low Guan Onn, Joint managing director of Jurong Shipyard Limited (JSL), called for greater productivity through greater efficiency at the Managerial Staff Association's (MBA) National Day function. He warned the MSA that It is basically not a trade union organisation but has been set up
      178 words
    • Article
      EAC gets its second vessel from Mitsui
      122 9 MITSUI Engineering and Shipbuilding recently delivered a 22,946 dwt cargo ship "Songkhla", to the East Asiatic Company (EAC) of Denmark. This Is the second of two Identical vessels ordered by EAC. The first vessel, "Sumbawa", was delivered In May. The ships are capable
      122 words
    • Article
      Lock icon Cargolux opens office
      101 9 Reuter KUALA LUMPUR, Thuri. European cargo carrier Cargolux Airlines International S.A. yesterday opened Its office at the International airport here to make Malaysia a base to tranship freight between Europe, South-east Asia and Australia. Cargolux director for Asia and the Pacific Stephen Miller In a statement said:
      Reuter  -  101 words
    • Article
      Lock icon London freight market
      178 9 AP LONDON, Thurs. Recent long-term period bookings augur 111 for any eariy recovering of freight rates as shipowners apparently foresee little Improvement during the next year. Yesterday, FrancoQuebec Lines booked the 15,000 dwt newbulldlng "Fer Jamaica" for 12 month's trading after December delivery ex-yard Spain at U553,890
      AP  -  178 words
    • Article
      Lock icon Lep's new container service
      111 9 AFP HONGKONG, Thurs. Lep International Far East Is starting a container service later this month between South Korea, Taiwan, Hongkong and Venice. The company Is part of the British-based Lep group of freight forwarders and Its spokesman here said that four new container vessels would operate
      AFP  -  111 words
    • Article
      Lock icon Taiwan's ports back in operation
      107 9 Reuter HONGKONG, Thurs. Taiwan's major seaports of Keelung and Kaohslung, battered by typhoons last month, have borrowed cranes and cargo handling equipment from Industry wid are almost fully back In operation, the Central News Agency reported. The southern container port of Kaohslung Is now 82
      Reuter  -  107 words
    • Article
      Lock icon China now Intelsat member
      82 9 UPI WASHINGTON, Thurs. China has become the 98th member of the International Telecommunications Satellite Organisation (Intelsat) which operates five commercial satellites high above the earth, It was announced yesterday. Intelsat said the organisation's operating agreement was signed on Tuesday by the Peking administration of long distance
      UPI  -  82 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      570 9 ARRIVALS Jil Operator Number Lm> TIbm 1 From KAL KE807 0015 SEL CAL CI331 0040 TPK/HKO/KUL MAS MH682 0610 KCH PAN PA847 0610 SFO/HNL/OUM OIA OA0OO 1000 HLP QIA OA 980 1030 HLP SIA SQ211 1045 HLP OIA OA944 1055 PKU OIA OA908 1100 MES PAL PR501
      570 words
    • Article
      Lock icon Venezuela's wealth is clogging up its ports
      297 9 AP CARACAS, Thurs. Venezuela's petrodollar-fuelled economic boom has produced an embarrassment of Imported riches that glut the nation's ports and airports and fill the holds of some 150 ships waiting at anchor to discharge their cargoes. Importers, customs agents and businessmen, worried that
      AP  -  297 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      206 9 Give us a man for a monthwell give him a language for life now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in
      206 words
Page thumbnail Page 10
  • Article, Illustration
    Lock icon London could go under in a day
    851 10  -  By TONY CRAIG OFNS LONDON: The threat of London being destroyed by a terrible flood is now so real that despite astronomically rocketing costs a unique Thames flood barrier is to be completed as rapidly as possible And the Greater London Council's (OLC)
    OFNS  -  851 words
  • Article
    BANKING ON THE COMPUTER
    1379 10  -  Driven by growing competition, Malaysian banks are introducing integrated computer systems in their operations. JIMI NGOH reports from Kuala Lumpur. JIMI NGOH THE trend towards the use of the computer Is becoming irresistible In Malaysia, as businesses become more complex and paperwork continues to pile up.
    1,379 words
  • Article
    Lock icon France won't give up nuclear plans
    712 10  -  By GILBERT SEDBON Reuter PARIS: France has declared Its readiness to join the United States and other nuclear powers In international talks to prevent nuclear arms proliferation but Is Ignoring one of President Carter's key suggestions for achieving this goal. Senior French government officials
    Reuter  -  712 words
  • Article
    Can protectionism be overcome?
    948 10  -  TEXTILE TALKS BREAKDOWN By JOHN MADELEY THE breakdown at the end of July of the Multi-fibre Textile Agreement talks In Geneva la a serious threat to International trade. The 50natlon MFA talks tried without success to negotiate a new agreement to replace the existing one which
    948 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      87 10 Copies Sold 24,000 23,000 22,000 21,000 20,000 19,000 18,000 17,000 16,000 15,000 14,000 CLIMB WITH US No, this is not a graphic study of the Himalayan mountains. It is a twelvemonth study graph of Fanfare's almost-meteoric rise in circulation in Singapore alone. A 6,820 increase in the last three months
      87 words
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  • Article, Illustration
    Fukuda: Japan will be an equal partner of Asean
    1174 11 MANILA, Thurs. Prime Minister Takeo Fukuda today pledged Japan's vigorous cooperation as an equal partner with Asean, saying he wanted specially close trade and economic ties with the five Asean states. Outlining the philosophy of the much-vaunted "Fukuda Doctrine", he said
    1,174 words
  • Article
    Kelantan's $3m shoe factory
    165 11 KUALA LUMPUR, Thurs. A Ms 3 million shoe factory in Pengkalan Chepa, Kelantan, a Joint venture between the State Economic Development Corporation of Kelantan and EFFE Group of Italy Is nearlng completion. It will produce leather shoes for the export market. The company, Italasla (K. 8.)
    165 words
  • Article
    Festival of Books from Aug 26
    99 11 THE Ninth Singapore Festival of Books and Book Fair will be held from Aug 2$ to Sept 4 this year at the Hyatt Hotel with the theme "Get Together With Books." The Deputy Prime Minister and Minister of Defence, Dr. Goh Keng Swee, will
    99 words
  • Article
    Mine sale frozen
    35 11 CANBERRA, Thurs. Treasurer Phillip Lynch froze for 90 days proposed acquisitions by Shell Co of Australia Ltd of stakes In two Australian coal mines pending review by the Foreign Investment Review Board.
    35 words
  • Article
    Lock icon Manila paper slams Tokyo businessmen
    158 11 Reuter MANILA, Thurs. Filipinos regard Japanese businessmen here as aggressive, vague in commitments, dilatory in making decisions and ready to drop contracts without qualms, according to an article in the Times-Journal newspaper today. The report, timed to coincide with the presence here of Japanese Premier
    Reuter  -  158 words
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    Lock icon Tokyo the most expensive city for UN officials
    176 11 Reuter UNITED NATIONS. Thurs. Tokyo it the mK expensive city fan the world for United Notions officials, according to corporative retail price indices listed in &o Ann iiMoottho UN's monthly Bollotln of Statistics. Twice a year, in February and August, the bulletin
    Reuter  -  176 words
  • Article
    Govt may license driving schools
    80 11 THE Government Is considering the licensing of driving Instructors and schools to Improve driving standards In Singapore. Speaking at the Klm Seng National Day dinner and cultural show at Klm Seng community centre last night, Mr. Ong Teng Cheong, Senior Minister or State for Communications,
    80 words
  • Article
    TOT outlines plans to boost tourism
    286 11 THAILAND hopes to double In the next four to five years the number of tourists from Singapore, Malaysia, Indonesia and the Philippines. This Is the aim of Mr S. Slrlslnha, the director of the Tourist Organisation of Thailand's (TOT) Singapore office. Speaking to Business
    286 words
  • Article
    More Singaporeans visit Hongkong
    151 11 MORE than 31,000 Singaporeans visited Hongkong In the first six months of this year, representing an Increase of 25.8 per cent over the same period last year. The rate of Increase is certain to increase in the second half of the year when more tourists go
    151 words
  • Article
    Lock icon Vehicle, ship exports behind July surplus
    371 11 Reuter TOKYO, Thurs. Increased deliveries of ships and large shipments of vehicles were the main reason for Japan's record monthly trade suplus in July, Finance Ministry sources said. Imports Increased only gradually because demand for crude oil has been stagnant due to slow economic
    Reuter  -  371 words
  • Article
    Lock icon Japanese banks will fund airlines' US purchases
    108 11 Reuter TOKYO, Thurs. The Ministry of Trade said semi-official Japanese banks will supply funds to Japanese airlines If the U8 Export-Import Bank does not extend a new loan for their Imports of US aircraft. The US bank, which used to provide the airlines
    Reuter  -  108 words
  • Article
    Higher awards after appeals
    124 11 TWO land acquisition appeals were settled yesterday with the Collector of Land Revenue agreeing to pay the appellants 122,900 more In compensation In the first case and $16,000 in the second. The two appellants were Mr. Tseng Wye Lin and Mdm. Tan Mul Klah whose houses
    124 words
  • Article
    Lock icon Cartel of small steel bar makers
    131 11 Renter TOKYO, Thurs. The Japanese government's Fair Trade Commission said it approved a IW-month pricing cartel by 50 Japanese small steel bar makers to check cut-priced sales In the domestic market. This Is the first pricing cartel to be authorised by the Fair Trade
    Renter  -  131 words
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    Lock icon International rubber council to hold meeting in October
    611 11 Reuter KUALA LUMPUR, Thurs. The Association of Natural Rubber Producing Countries /ANRPC) said It will hold the first meeting of its International Natural Rubber Council in Kuala Lumpur between Oct 3 and An ANRPC statement said dates for the meeting were fixed
    Reuter  -  611 words
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    Lock icon China needs $2b more in foreign exchange
    371 11 Reuter LONDON, Thurs. China will require an additional US$l billion (552.44 billion) this year to meet foreign currency requirements and Is mor< likely to seek it through commercial bank overdrafts than mediumterm currency credits, Bank of America Asian representative and China specialist Louis
    Reuter  -  371 words
  • Article
    British offshore mission coming
    118 11 A 12-MEMBER British offshore trade mission Is due here on Oct. 4 to assess the potential of the offshore markets in South-east Asia. During their four-day stay, the mission will also Introduce their North Sea oil services and products as well as prepare for the British
    118 words
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    Lock icon Decision on uranium
    80 11 Reuter CANBERRA, Thurs. Prime Minister Malcolm Fraser will announce on Aug 25 the government's decision on resuming mining and export of uranium, government officials reported. Earlier this week government officials reported that Mr. Fraser and his Cabinet had decided that uranium development could resume after a four-year
    Reuter  -  80 words
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    Lock icon Posting a record profit
    53 11 AFP HONGKONG. Thurs. Hongkong's postal service earned a record HK5290.7 million (*****.3 million). In the fiscal year ending March 31. This was $40.2 million more than last year. An official report said that during the year the service handled 292.5 million postal articles, or about 800,000
    AFP  -  53 words
  • Article
    SHK may set up finance company in KL
    189 11 KUALA LUMPUR, Thurs. Hongkong's largest stockbroklng company, Sun Hung Kai Securities, plans to establish a finance company here. Its chairman and managing director, Mr. Fung King Hey, said he Is seriously considering setting up a finance company here In view of the
    189 words
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  • Article
    Volvo sales fall 30pc, but safety is the motto
    611 12 VOLVO'S sales In Singapore for the first half of this year fell by 30 per cent,that is 80 to 42 units, compared to the first half of last year. Federal Auto, Its agents, stress however, that sales have been picking up
    611 words
  • Article
    Lock icon Seoul's widening trade gap with Japan
    275 12 AP AFP SEOUL, Thurs. South Korea suffered a US$655million (SJ 1,604 million) deficit In trade with Japan during the first five months of this year, up 13.7 per cent from the $576 million a year earlier, official statistics showed today. Korea has been suffering
    AP; AFP  -  275 words
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    Moves to hold annual productivity meets
    471 12 DISCUSSION to start a National Conference of Productivity Committees In Singapore are far advanced. This was disclosed to Business Times yesterday by Mr. Kenneth Mok, deputy director of Productivity Services at NTUC. He said that once details are firmed up by the National Productivity
    471 words
  • Article
    Lock icon Proposals to boost Philippine oil hunt
    408 12 Reuter MANILA, Thurs. The Petroleum Association of the Philippines Inc (PAPI) has submitted to the Natioanl Economic Development Authority (NEDA) a nine-point proposal aimed at spurring the search for oil, PAPI officials said. PAPI, an official grouping of both local and foreign oil explorers,
    Reuter  -  408 words
  • Article
    LONDON STOCKS
    788 12 LONDON, Thurs. The stock market closed off highest levels following the Bank of England's signal it was unwilling to reduce its seven per cent minimum lending rate.-dealers said. At 3.00 pm the Financial Times Index was up 3.6 at 488.9, having touched 495.5. Government bonds closed around opening
    788 words
  • Article, Illustration
    Sizing up the investors of Malayan Credit shares
    251 12 THE stock market's treatment of Malayan Credit and its various problems illustrates the anomalous situation which can occur when speculators they certainly can't be Investors punt around a counter without regard for fundamentals. A record of stock market transactions in the period
    251 words
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    Lock icon US should stay on in Asia, says Fukuda
    329 12 UPI MANILA, Thurs. Japanese Prime Minister Takeo Fukuda, following up his proclamation of a nonmilitary role for his country, said today the United States should malntain its military and economic presence In Asia. Mr. Fukuda also told a news conference Japan Intends
    UPI  -  329 words
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    Science Centre gets $1m
    85 12 A DONATION of $1 million from the Federation of Economic Organisations In Japan (Keidanren) Is earmarked for the Science Centre. This was said by Mr. Wee Mon Cheng, Singapore's Ambassador to Japan, when he handed over a $200,000 cheque donated by the Japan Shipping Industry Foundation
    85 words
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    Lock icon Pressure building up against Fraser
    449 12 Reuter CANBERRA, Thurs. Australians braced themselves today for a possible early general election as Prime Minister Malcolm Fraser's Government came under Increasingly heavy pressure over its failure to stem the country's spiralling unemployment. Disapproval developed across the political spectrum from critics who charged that yesterday's
    Reuter  -  449 words
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    Lock icon Slack times ahead
    108 12 Reuter HONGKONG, Thurs. Hongkong Industrialists are less optimistic than they were three months ago and the textile industry Is expecting slack business, accordlpg to a government survey published here. The survey by the Census and Statistics Department was conducted among 620 firms In this British colony, which
    Reuter  -  108 words
  • Article
    Law Society voting move
    95 12 THE Law Society of Singapore Is planning some amendments to the Legal Profession Act to Introduce compulsory voting for all practising members of the Bar so that they can take an Interest in the election of the council. Legal sources said yesterday that details of the
    95 words
  • Article
    Lock icon Algerian firm calls for textile tenders
    384 12 AFP LONDON, Thurs. Algeria yesterday called for tenders for imports of various textiles. The Algerian company Sncotec (Textiles and Leather) has placed advertisements in the British press asking for tenders to supply 19,530 tonnes of various kinds of yarn (cotton, nylon, polyester and other
    AFP  -  384 words
  • Article
    Sime may sell Steam Laundry
    134 12 SIME Darby (S) Is believed to be looking for a buyer to take over the operations of one of its wholly-owned subsidiaries, Singapore Steam Laundry. The decision was prompted by heavy losses Incurred by the subsidiary which was set up In 1932. The losses stemmed
    134 words
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    Oil will still be main energy source by 80's
    302 12 THE world's oil supplies ut expected to stay well la excels of aea-ell energy a applies bihuaa sow and 1980, the World Eaern Outlook, u Exxon publication, enid. The publication amid thia reflected the time naadad to reverse coal's historic decline,
    302 words
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